Hey, it's Kramer, and this is my morning take on the market from today's

CBC Investing Club morning meeting.

Jeff, you know I am not a traditional macro guy, but the macro background today, whether

it be the Fed's favorite index or at least J-PALs, the personal consumption expenditures

just fine, not bad, can do the job.

Or maybe more important, China.

Very, very strong over China.

We have a lot of stocks related to China.

Yeah, cooler PCE than expected showing inflation rising a little bit less than the month before.

But yeah, strong numbers overnight out of China,

PMIs, both on the manufacturing and non-manufacturing side, which is a good sign towards

their reopening from their lockdowns.

And Carl Kintinii asked me questions. Is there anything you worried about? Well, of course,

there's always things to worry about. But there are these euros that you have, these kind of interregnums in the stock market,

where there's no real news except for benign backdrop like we have right now, so people can

extrapolate and basically run and on anything. And that's exactly what they're doing. And is it a

responsible thing? No, it's just a time-honored thing. And I've seen many first quarter where people realized they were caught off sides, they stayed negative and they had to change their view. And that's exactly what happened this week. Frantically trying to change a view, trying to find things that they can like within their worldview of perhaps a continuation of banking crisis. Sure. And the S&P, it's on track to gain about 6% in the first quarter.

Coming into the year, a lot of people were saying, all right, maybe you have a down first half,

second half is up. I mean, we'll still don't know what's going to happen in Q2, but took a lot

of people by surprise. Right. I remember I was on vacation during the period, right when

we were very worried about credit suites going under after the three S's going under and I got an email from my old friend Larry Williams, who's a fantastic historian and technician. And he said, I know right now you're thinking about cave and you're thinking about going negative. You got to double down right here. I wrote back, I said, only a fool would double down. He just called me foolish. And boom, that's

exactly what you had to do. And what I want to remind people is that this, okay, we're still

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